Business
NYTimes x The Athletic: The biggest news organization in the world is looking to get bigger

NYTimes x The Athletic: The biggest news organization in the world is looking to get bigger

David Crowther

The New York Times is reportedly looking to acquire The Athletic, the subscription sports news site. The Athletic has raised more than $139m from investors and has spent aggressively on acquiring sports writing talent since its launch back in 2016, amassing more than 1 million paying subscribers along the way (some of whom are on discounted trial offers).

‍The Athletic has channelled the adage "move fast and break things" in its short life. The company has used data to feedback quickly to writers about what stories are doing well, and have even financially incentivised writers to write articles that bring in as many new Athletic subscribers as possible. The company's move into the UK, where it paid up to get a number of well-regarded football (soccer) writers onto their team, coupled with aggressive marketing and discounts, was a classic example of The Athletic's strategy.

‍Paywalls everywhere

‍So far, that strategy has worked. Getting over 1 million paying subscribers for a news product is pretty rarefied air in the world of English speaking news. Only the Washington Post, the Wall Street Journal, Game Informer, the Financial Times and the New York Times itself have broken through that milestone according to data from FIPP.

As consumers increasingly get comfortable with paying for news and insight, more publishers are putting content behind a paywall. Stuck between a rock (advertising) and a hard place (convincing readers to get their credit card out), many news publishers are increasingly choosing the latter.

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Claire Yubin Oh
19h
Music record companies love being “artist-centric” — but how much do they pay out to artists?

On Tuesday, Pershing Square made a $64 billion bid to buy Universal Music Group.

In this photo illustration, the Universal Music Group logo
Mounjaro KwikPen Photo Illustrations

Eli Lilly makes the world’s bestselling drug. Can it keep the party going?

Some are starting to worry that Lilly, which for a short time vaulted into the trillion-dollar market cap club, may have hit a plateau.

J. Edward Moreno19h
Max Knoblauch
4/7/26
Check, please

WE
CAN’T
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ON
LIKE
THIS

business
Max Knoblauch

Delta to increase bag fees by $10 on domestic flights this week, following JetBlue and United, as jet fuel surges

As the price of jet fuel surges amid the war in Iran, Delta Air Lines on Tuesday announced that it will hike its checked bag fees by $10 beginning this week.

Checking one bag on a domestic Delta flight will now cost $45, up from $35. A second bag will cost $55, up from $45, and a third will cost $200, up from $150. In a statement to Sherwood News, Delta issued the following announcement:

“For tickets purchased on or after April 8, Delta will increase fees for first and second checked bags by $10 and for a third checked bag by $50 on domestic and select short-haul international routes. These updates are part of Delta’s ongoing review of pricing across its business and reflect the impact of evolving global conditions and industry dynamics. Delta SkyMiles Medallion Members; customers traveling in First Class, Delta Premium Select and Delta One; active-duty military customers; and those with eligible co-branded Delta SkyMiles American Express Cards will continue to receive their allotment of complimentary checked bags.”

The move follows similar hikes by JetBlue and United Airlines last week. More are likely to come: when one major airline adjusts its fees, others tend to follow quickly behind. Delta last raised its bag fees in 2024, along with other major airlines.

Jet fuel prices were $4.69 a gallon on Monday, per the Argus US Jet Fuel Index. That’s up from the low $2 range for much of January.

business
Max Knoblauch

Paramount reportedly receives $24 billion from Gulf funds to back its Warner Bros. takeover

Three Middle East sovereign wealth funds have agreed to back Paramount’s takeover of Warner Bros. Discovery to the tune of roughly $24 billion, according to Wall Street Journal reporting.

The company’s triumph over Netflix in the bidding war came thanks in part to financial backing from Oracle cofounder Larry Ellison, billionaire father of Paramount CEO David Ellison.

Saudi Arabia’s PIF, which last year led the $55 billion deal to take Electronic Arts private, will provide about $10 billion in the deal. The Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co. is also involved.

According to the WSJ, the funds will not receive voting rights in the combined Paramount-Warner company. Those working on the deal don’t expect the Gulf funds’ involvement to spark any additional regulatory reviews.

Exclusive | Gulf Funds Agree to Back Paramount’s $81 Billion Takeover of Warner

Exclusive | Gulf Funds Agree to Back Paramount’s $81 Billion Takeover of Warner

The company’s triumph over Netflix in the bidding war came thanks in part to financial backing from Oracle cofounder Larry Ellison, billionaire father of Paramount CEO David Ellison.

Saudi Arabia’s PIF, which last year led the $55 billion deal to take Electronic Arts private, will provide about $10 billion in the deal. The Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co. is also involved.

According to the WSJ, the funds will not receive voting rights in the combined Paramount-Warner company. Those working on the deal don’t expect the Gulf funds’ involvement to spark any additional regulatory reviews.

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